Ord 1996-085 - Laserfiche WebLink

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!17v "Previously Issued Parity Obligations" means the outstanding bonds of the following issues: - City of San Marcos, Texas, Waterworks and Sewer System Revenue Refunding and Improvement Bonds, Series 1995; City of San Marcos, Texas, Waterworks and Sewer System Revenue Bonds, Series 1995; and City of San Marcos, Texas, Waterworks and Sewer System Revenue Bonds; Series 1996-A. >-- "Purchaser" means the person, firm or entity initially purchasing the Bonds from the City and which is designated in Section 7.01 of this Ordinance. "Record Date" means the last business day of the month next preceding an Interest Payment Date. "Register" means the Register specified in Section 3.06(a) of this Ordinance. "Special Payment Date" means the Special Payment Date prescribed by Section 3.03(b) of this Ordinance. "Surety Policy" means, to the extent permitted by law, as evidenced by an opinion of nationally recognized bond counsel, a surety bond or insurance policy (which, tmder currently applicable law, may not entitle the provider thereof to any right of reimbursement or repayment other than a right to subrogation upon payments being made to bondholders) by which the issuer is obligated to provide funds up to add including the ma.ximurn amount and under the conditions specified in such agreement or instrument, provided that the issuer of any Surety Policy shall be rated, at the time of issuance of such. Surety Policy, in the highest rating category by Standard & Poor's Ratings Group and Moody's Investors Service. "System" means the City's combined Waterworks and Sewer System, including all present and future extensions, enlargements, additions, replacements and improvements thereto. "Unclaimed P<l}ments" means money deposited with the Paying Agent/Registrar for the payment of the principal of or interest on the Bonds as the same come due and payable and remaining unclaimed by the Owners ; of Bonds for 90 days after the applicable payment or redemption date. .- Section 1.02. Other Defmitions. The terms "City Council" and "City" shall have the respective meanings assigned in the preamble to this Ordinance. Section 1.03. Findings. The declarations, determinations and findings declared, made and found in the preamble to this Ordinance are hereby adopted, restated and made a part of the operative provisions hereof. ~ ~ \ wwu 9QI\I)()Q\O aDNCI!.n< 3